Feb 12, 2013, 11.11 AM | Source: CNBC-TV18
Buy Maruti Suzuki on dips, says Sudarshan Sukhani of s2analytics.com.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, "We have seen two big days of declines in Maruti Suzuki. The stock chart has not been altered in anyway. It is in a strong uptrend. Here is a buy on dips opportunity."
He further added, "If there is some minor dip then trader has to accept it, in the sense that he has to accept some heat after he buys it but the trade here is to go long. This is a stock that is moving eventually towards Rs 2,000."
At 10:52 hrs Maruti Suzuki India was quoting at Rs 1,570.70, up Rs 10.80, or 0.69%. It has touched an intraday high of Rs 1,582.45 and an intraday low of Rs 1,565.05.
The share touched its 52-week high Rs 1,637.60 and 52-week low Rs 1,077.00 on 06 February, 2013 and 04 June, 2012, respectively. Currently, it is trading 4.09% below its 52-week high and 45.84% above its 52-week low. Market capitalisation stands at Rs 45,379.10 crore.